AZFCU has been serving consumers and small businesses throughout Arizona for nearly 90 years. As many of the credit union’s ATMs were reaching end of life, AZFCU evaluated how to provide strong self-service experiences while supporting ongoing growth now and into the future. The credit union ultimately selected Atleos’ ATMaaS solution, trusting the experts at NCR Atleos to manage the distribution, installation, maintenance and cash management of its fleet.

“This is an exciting time for AZFCU as we continue to grow our membership and expand into new areas across the state. We needed a way to support this scale with added operational efficiencies and a robust member experience,” said Chad Forkenbrock, EVP & Chief Operating Officer of AZFCU. “With Atleos’ ATMaaS, we will be able to bring new functionality, faster innovation and greater reliability and uptime to our members while also benefitting from the predictable cost structure and more time to focus on strategic growth plans.”

“As business priorities shift, financial institutions like AZFCU are recognizing the value that relying on trusted partners to run the ATM fleet brings,” explained Diego Navarrete, executive vice president, Global Sales for Atleos. “By outsourcing the management and maintenance of the critical self-service channel to Atleos, AZFCU will be able to lower costs and focus greater resources on digital and growth priorities.”

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Mobile app upgrades include easier management of accounts, enhanced balance and transfer functionality, and increased access to information and assistance. In addition, new web-based features include a redesigned user-friendly interface, improved privacy management, and an easier way to create and update direct deposits.

The advancements to CIT Bank’s mobile app are powered by FIS Digital One Consumer Studio platform, which helps banks build, deploy, and scale their unique digital banking experiences. Now, CIT Bank customers can access all of CIT Bank’s online banking features from the convenience of their mobile devices.

“Consumers expect a seamless digital experience, and with these enhancements to the CIT Bank mobile app, we’ve empowered them with unparalleled banking convenience,” said Ravi Kumar, head of CIT Bank. “Now our customers can bank with ease, with all of our online banking features at their fingertips.”

CIT Bank’s mobile app upgrades, along with its competitive rates, underscore its commitment to providing customers maximum growth for their savings with an effortless banking experience, said Kumar.

“CIT Bank has always been dedicated to creating a leading digital banking experience that sets them apart from their competitive set, and this latest release powered by FIS delivers on that promise,” said John Durrant, President of Banking Solutions at FIS. “With our Digital One Consumer Studio platform, CIT Bank can personalize, customize, and extend their experience to their growing customer base in ways that make them unique amongst other digital direct bank brands.”

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Atomic is proud to announce its partnership with OneSource Virtual (OSV), a collaboration designed to deliver a simplified and secure direct deposit management solution to millions of American workers. This partnership will enable Atomic to directly connect with OneSource Virtual customers to provide their employees with unparalleled control and flexibility over their financial lives.

OSV, an official Workday partner, has earned its reputation as one of the country’s fastest-growing business process-as-a-service (BPaaS) providers serving over 1,000 customers while processing transactions exceeding $150 billion annually. OSV plays a pivotal role in streamlining administrative challenges linked to payroll, taxes, benefits, and accounts payable for national and regional employers. With the introduction of their digital wallet, myFlexWallet, OneSource Virtual is now able to provide tools and services to improve the financial health and well-being of their customers.

Atomic and OSV working together aligns closely with the Consumer Financial Protection Bureau’s (CFPB) Rule 1033, as it fosters greater financial connectivity and empowers individuals with enhanced control over their direct deposit information. This partnership exemplifies how Atomic leads the industry in transforming it into a more interconnected and secure ecosystem, allowing financial institutions to acquire new account holders and become their primary banking relationship. Notably, four of the top 10 financial institutions trust Atomic to deliver the most secure and highest-converting direct deposit switch solution.

John Bax, Chief Financial Officer of OSV, commented on the partnership, stating, “Our collaboration with Atomic represents a strategic move towards empowering employees and fostering financial independence. It’s not just about improving financial processes; it’s a bold step toward enabling individuals to take control of their finances, providing them with the freedom and flexibility to select products and services that benefit them the most. Atomic is a leader in the industry, delivering innovation, security, and user experience, and we are excited about the transformative impact it will have. This announcement furthers our commitment to providing our customers with top-notch financial well-being and support tools for their employees.”

Atomic’s integration with OSV’s digital wallet system streamlines the process of updating direct deposit information through Atomic’s CoAuth Technology, significantly enhancing user experience and operational efficiency by eliminating the need for payroll passwords and traditional login processes. CoAuth technology promises a superior user experience for account holders and lowers the barriers associated with changing financial institutions. To ensure secure identity verification, users benefit from convenient two-factor authentication methods within CoAuth, such as a phone code or the last four digits of their social security number.

Jordan Wright, Co-Founder and CEO of Atomic, stated, “At Atomic, we’re redefining the future of payroll and financial connectivity. Our partnership with OSV exemplifies our commitment to expanding connectivity options, making it effortless for employees to update their direct deposit preferences. Incorporating direct integrations with payroll providers, driven by our CoAuth technology, complements our existing TrueAuth and SmartAuth methods. This multi-pronged approach ensures that each user can select the most suitable connection method, ultimately resulting in increased conversion rates. It’s about creating opportunities for users to take unprecedented control of their financial lives, putting financial freedom within everyone’s reach.”

Atomic leads the way in uniting the financial ecosystem, fostering collaboration between fintechs and banks to shape a more open and interconnected financial system. With several promising partnerships on the horizon, including collaborations with some of the industry’s largest payroll providers, this reflects their unwavering commitment to establishing a transparent, accessible, and much improved financial landscape for consumers.

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Powered by CFI-specific large language models (LLMs), Eltropy’s generative AI tools are bringing efficiency and personalization to community bank and credit unions’ engagement strategies, a journey that Magnifi shares.

“Our journey towards digital transformation led us to Eltropy’s AI chat solutions, and we’re starting to see remarkable results,” said Brad Shafton, Senior Vice President, IT and Digital, Magnifi Financial, a $2.2 billion credit union in central Minnesota. “What sets Eltropy apart is not just their technology but also their dedication to understanding the credit union industry and their commitment to community financial institutions like ours. They continue to evolve, and that’s why we consider them a long-term partner, including for AI.”

Eltropy is not only improving the member experience but is also expediting processes, such as helping with loans in Magnifi’s mortgage and lending department, making it a win-win for both the credit union itself and its members, said Shafton.

At the forefront of this transformation are Eltropy’s “Employee Assistants” that enable contact center agents, tellers, and other customer-facing personnel to instantly access vetted, verified knowledge and automate tasks like auto-generating emails and more, all in natural conversation.

Eltropy’s member-facing ChatGPT-style agents provide swift, accurate responses to typical member queries, improving service efficiency, reducing wait times, and alleviating the workload for credit union call center agents and other staff. This optimization allows credit unions like Magnifi to allocate more resources to more complex interactions. 

“As we embrace the era of generative AI, alongside the current economic challenges and persistent staff shortages, credit unions and community banks are actively looking for innovative ways to thrive,” said Eltropy Co-founder and CEO Ashish Garg. “Eltropy’s generative AI tools are empowering forward-thinking CFIs to achieve this by accelerating and enhancing employee knowledge training, improving the member experience and ultimately fueling growth.”

Eltropy’s commitment to advancing generative AI aligns with industry trends and the growing demand for personalized and efficient member interactions. These advancements are reshaping the credit union landscape and ensuring that credit unions remain competitive in a rapidly evolving financial sector.

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Marijus Plančiūnas, the CEO of Paysera LT, expressed enthusiasm about the strategic move, stating, “One of the key advantages offered by Paysera is instant SEPA transfers, particularly beneficial for Georgia, a non-SEPA member. This signifies a transformative shift for Georgians, enabling them to conduct European transactions swiftly and seamlessly. Furthermore, the expansion of Paysera creates new avenues for business development, fortifying the longstanding ties between Lithuania and Georgia.”

The physical expansion of the Paysera Group into various countries is facilitated by a collaborative joint activities model. This model was successfully implemented in Georgia, where local entrepreneurs, holding 100% of the bank’s shares, introduced the Paysera brand and technology. Dimitry Kumsishvily, a prominent businessman, serves as one the shareholders and director.

Dimitry Kumsishvily stated, “Paysera Bank Georgia obtained its license as the first digital bank in the Georgian market on November 17, 2023, and has promptly initiated services for both individuals and legal entities. Through our commitment to innovative business models and collaboration with the National Bank of Georgia, Paysera Bank has seamlessly integrated Georgian clients into the SEPA system, enabling Euro transactions with the same ease as transactions in Georgian Lari (GEL). This not only enhances financial accessibility but also aligns our country with the European family.”

In light of Georgia achieving candidate status for the European Union on December 14, Paysera Bank Georgia announced a special promotion for its clients. Over the next three months, Euro transfers to Europe will be offered completely free of charge, showcasing the company’s dedication to fostering financial inclusivity and reinforcing Georgia’s ties with the European Union.

In mid-December, the Central Bank of Georgia augmented the bank license held by Paysera Georgia, granting the institution the opportunity to provide loans in the future.

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FactSet Mercury is a breakthrough solution that optimizes the company research workflow for junior bankers, offering a single, trusted conversational interface to access key company information with supporting context and actionable next steps.

With FactSet Mercury, users can access FactSet’s comprehensive financial fundamentals and pricing data, along with extensive bank and branch regulatory data through an integrated suite of generative AI (GenAI) tools surfaced in a single chat interface. New features of the chatbot include Chart Creator, which empowers a user’s next best action by using natural language to create a pitch-ready chart.

“We are thrilled for clients to experience mile-wide discoverability on FactSet by simply asking for what they need,” said Kristy Karnovsky, Chief Product Officer at FactSet. “We are confident users will not only be able to work more efficiently, but also value the personalized, connected content and insights we will surface by leveraging our high-quality data and AI-powered solutions.”

The release of FactSet Mercury is part of FactSet Explorer, a product preview program developed under FactSet’s AI Blueprint. This program enables clients to gain early access to GenAI-powered beta products and contribute directly to their development. FactSet is currently working with a number of its premier banking clients, with plans to scale the Explorer program across FactSet’s Buy-Side and Wealth client segments.

“We are excited to introduce FactSet Mercury as a game-changing solution that will revolutionize the workflows of junior bankers. By providing a seamless conversational interface, we are streamlining the research process and empowering users with comprehensive data and actionable insights,” said Kendra Brown, Senior Director, Banking & Sell-Side Research at FactSet. “With FactSet Mercury, we are dedicated to enhancing productivity and delivering personalized, connected content to our valued clients.”

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Eltropy, a leading digital conversations platform for community financial institutions (CFIs), announced that Eltropy’s Digital Conversations Platform is now accessible through the Jack Henry digital banking platform.

Eltropy leveraged the Banno Digital Toolkit, the same set of APIs the Banno Digital Platform is built on, to embed its technology into the digital experiences offered by community and regional financial institutions. Access to Jack Henry’s API, design, and authenticated frameworks has enabled Eltropy to directly integrate into the digital banking platform providing a seamless banking experience.

This integration contributes to Jack Henry’s growing ecosystem of over 950 fintechs, providing approximately 7,500 financial institutions with relevant financial products and services for their account holders.

Eltropy’s unified Digital Conversations Platform enables members and customers to communicate with their credit unions or banks through their preferred channels—be it text, chat, or video. Eltropy’s suite of conversational AI products automates more than 30 percent of front-line queries across these channels and delivers actionable insights from all digital interactions, making it the industry’s first AI and digital-first contact center solution specifically tailored for credit unions and community banks.

“Integrating into the Banno ecosystem reflects our commitment to improving member engagement for community banks and credit unions,” said Ashish Garg, Co-founder and CEO of Eltropy. “This allows members to choose how they want to communicate and give credit unions and community banks the tools they need to engage with an increasingly digital-first demographic. It’s a win-win for all—seamless member service, better customer satisfaction, and better productivity.”

“Embedding convenient Secure Chat right in online banking has been hugely popular with our members,” said Gary Jeter, CTO of TruStone Financial Credit Union, based in Minnesota. “We love seeing the spike in digital conversations that expands our service capabilities without adding call center costs and volume.”

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Alkami’s business banking solution provides a market-tested digital banking experience designed to seamlessly onboard new users and increase product penetration, adoption and engagement. Leveraging the solution, financial institutions can support businesses at every stage of their financial journey through comprehensive payment solutions, seamless sub-user management and actionable reporting, all built into a secure and scalable platform.

“Partnering with Alkami allows us to access a commercial market that we have never served before. By implementing the business banking solution, we will now be able to deliver the highest level of service to our small business members, providing them with functionality we know they will engage with on a daily basis,” said Eric Pointer, president and chief executive officer of CUTX. “We pride ourselves on listening closely to our members, and launching a business banking platform comes in direct response to their feedback. We look forward to working with Alkami to expand the services we can provide in order to best address our members’ needs with industry-leading digital banking and account opening solutions.”

“CUTX presents a prime example of how digital banking can be a business driver for financial institutions that are committed to meeting the needs of their members, whether they be retail or business. This is particularly critical today, as regional and community financial institutions respond to growing competition from fintechs and the biggest banks and increased pressure to drive deposits,” said Jeff Chen, vice president, product management at Alkami. “We are excited to continue our partnership with CUTX and support the credit union as it drives growth in the business banking segment.”

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“We’re pleased to welcome Scott Stengel to Truist to guide our legal affairs and government relations strategy at a critical time of rapid change in the industry,” said Rogers. “Scott is an entrepreneurial leader with deep financial services legal experience spanning corporate governance, compliance, digital innovation, cybersecurity, government relations and risk management, and he possesses the right growth-oriented mindset to navigate industry headwinds while helping fulfill our purpose of inspiring and building better lives and communities.”

Stengel previously served as general counsel of Ally Financial since 2016, where he was responsible for the legal affairs, corporate secretary and government relations functions. Prior to that, he served as general counsel for UMB Financial Corporation, and as a partner at King & Spalding LLP and Orrick, Herrington & Sutcliffe LLP in Washington, D.C., with practices focused on global banking, capital markets and government relations.

He received a bachelor’s degree in economics, with highest honors, from the University of Notre Dame and a juris doctorate, graduating magna cum laude, from the Notre Dame Law School. Stengel is a member of the advisory board of the U.S. Chamber Litigation Center and a member of the Leadership Council on Legal Diversity.

“In her six years at Truist, Ellen Fitzsimmons’ exceptional, purpose-driven actions and leadership have left a positive, indelible mark on Truist, our clients, teammates, communities and stakeholders,” Rogers said. “We wish her the very best in her well-deserved retirement and congratulate her on a storied career.”

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Through AccessPay’s connectivity via the SWIFT network to over 11,000 banks globally, Sage customers who sign up to use AccessPay’s services can receive comprehensive and detailed statement data from a broad array of banks, which is automatically formatted and delivered through a single, secure connection.

Delivering bank statement data directly into Sage enhances the precision and efficiency of the reconciliation process. This update facilitates improved financial decision-making by providing users with accurate, timely data from their banking partners. The streamlined process reduces the manual effort once dedicated to downloading and reformatting statement data, simultaneously mitigating the risk of fraudulent activity through the elimination of manual manipulation of bank statement data.

Chip Mahan, Global Commercial Head of Fintech, Payments & Banking at Sage, said: “The partnership with AccessPay gives our customers access to reliable and secure bank connectivity at a global level and across multiple Sage products. It will help them streamline time-consuming manual processes and instead focus on growing their businesses. We look forward to working with AccessPay to enhance our customers’ experience further.”

Graham Morgan, Director of Strategic Alliances at AccessPay, said: “At AccessPay we are incredibly proud of our Automated Bank Statement Retrieval solution – a simple yet powerful, user-friendly answer to one of the most challenging issues facing accountants globally. We are also thrilled to be working closely together with a market leader and are ready to add further value to Sage’s innovative solutions and vast user base.”

About AccessPay:

AccessPay is leading the way in driving digital transformation within finance and treasury teams, by modernising processes across banking operations, minimising the risk of fraud and error, enhancing efficiency and optimising cash visibility. Headquartered in Manchester, UK and established in 2012, AccessPay is a pioneering force in the banking industry, providing an unparalleled embedded banking experience and leading-edge solutions for its clients.

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